Asian paraxylene (PX) prices fell slightly by US $5 / ton to close at $1,629 / ton (FOB Korea) and $1,649 / ton (CFR Taiwan / China) on August 22. As per market reports, buyers are cautious.
Current offer of PX for September shipment declined to US $1,665 from US $1,670 / ton CFR. Downstream bids were quoted at US $1,635 / ton CFR. Since the spread between buyers and sellers was wide, no deal could be reached.
Market offers for October shipment were at US $1,660 / ton CFR, but no corresponding deals were concluded.
In addition, prices of xylene (MX) fell US $20 / ton to close at US $1,329 / ton CFR Taiwan.
PX-MX spread has hit the highest level since three and a half months, mainly due to more than 16,000 tons of heterogeneous MX has come in to the market through public bidding, which inhibits the upwardly movement of heterogeneous MX.
marketing@alchempro.com
